Invitrogen reports higher earnings, acquisition plans

Bradley J. Fikes - Staff Writer

CARLSBAD -- Invitrogen Corp. reported earning $49.6 million, or
87 cents per share, in the quarter ended Dec. 31. In the same
quarter a year ago, the Carlsbad-based company earned $30.5
million, or 55 cents per share.

Invitrogen plans to make $500 million in acquisitions this year,
Greg Lucier, the company's chief executive officer, said in a
conference call Tuesday. Invitrogen, a biotechnology company that
sells products to help biotech and medical research, has acquired
many smaller biotech companies in the last few years to round out
its product offerings.

Invitrogen stock closed before the announcement at $70.93 per
share, up 62 cents for the day. The company's total market value is
$3.75 billion, making it the largest publicly traded company in
North County.